Guy Spends $30M on Beeple(milkroad.com)
milkroad.com
Guy Spends $30M on Beeple
https://www.milkroad.com/p/talked-guy-spent-30m-beeple
4 comments
in other words....Debt backed securities replaced with useless-art securities....oh boy.
> His advice for us: lean into what the nerds are doing
Wait, so I thought surely this would be "us" at least in some broad way, but also:
> He borrows against the NFT in U.S. dollars, then uses the capital as a lender in a riskier, higher-interest DeFi transaction (I.E. the 20% UST yield we showed you on Friday).
OK he would be eaten alive in most tech communities if he even threw this idea out there.
The contingency-planner nerds would start talking about 2008 while they look around for a flat surface to lay on, and the more analytical nerds would probably ask if he even knows how much money he really needs to get by.
It's like, lean into what the nerds are doing, but not _those_ nerds. You'd need to filter for the ones who are worried about not being risky enough & cutting-edge enough.
Wait, so I thought surely this would be "us" at least in some broad way, but also:
> He borrows against the NFT in U.S. dollars, then uses the capital as a lender in a riskier, higher-interest DeFi transaction (I.E. the 20% UST yield we showed you on Friday).
OK he would be eaten alive in most tech communities if he even threw this idea out there.
The contingency-planner nerds would start talking about 2008 while they look around for a flat surface to lay on, and the more analytical nerds would probably ask if he even knows how much money he really needs to get by.
It's like, lean into what the nerds are doing, but not _those_ nerds. You'd need to filter for the ones who are worried about not being risky enough & cutting-edge enough.
it seems a bit Rube Goldberg machine ish, right?
If he has 30m, why buy an NFT? Why not just ... use the 30M for the DeFi lending?
Is it just money laundering?
If he has 30m, why buy an NFT? Why not just ... use the 30M for the DeFi lending?
Is it just money laundering?
Sure, I could see money laundering. I could also see leveraging the technology play if he needs to convince someone...first of all himself. Tech people sometimes need a tech-curve angle to feel safe about a financial play.
Well, or (thing) people need a (thing-interest) angle to feel safe about (anything) is a pretty good rule.
Well, or (thing) people need a (thing-interest) angle to feel safe about (anything) is a pretty good rule.